Putin resists foreign bank moves
Vladimir Putin has insisted foreign banks should not be allowed to open their own branches in Russia despite strong opposition from the US.
The Russian president said foreign bank branches should be “forbidden“, partly because of fears over money laundering and also the need to fight terrorism.
Russia’s stance is at odds with global trade rules at a time when it is trying to join the World Trade Organization.
The US has insisted Russia change its position if it wants to join the WTO.
Source: BBC.
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